Recently asked questions relating to Costessey leasehold conveyancing
I am in need of some leasehold conveyancing in Costessey. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Costessey - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
There are only 72 years remaining on my flat in Costessey. I now want to extend my lease but my landlord is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the freeholder. In some cases a specialist would be useful to carry out a search and prepare a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the application to the County Court covering Costessey.
I’m about to sell my 2 bed flat in Costessey.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I've found a house that seems to be perfect, at a great figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Costessey. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Costessey ?
The majority of houses in Costessey are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Costessey in which case you should be shopping around for a Costessey conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.
What are your top tips when it comes to choosing a Costessey conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Costessey conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Costessey conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- If they are not ALEP accredited then what is the reason?
I bought a split level flat in Costessey, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Costessey with an extended lease are worth £210,000. The ground rent is £60 per annum. The lease finishes on 21st October 2096
With only 71 years unexpired we estimate the price of your lease extension to span between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
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